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Industrial Printer Shipments Deliver Solid Growth in the Fourth Quarter of 2023, According to IDC

The fourth quarter of 2023 (4Q23) saw industrial printer shipments grow 8.4% compared to Q3 2023 and 11.9% compared to Q4 2022, according to the latest release of the International Data Corporation (IDC) Worldwide Industrial Printer Tracker.

"Wide format digital printers make up the bulk of industrial printer shipments and Q4 2023 was a strong quarter for wide format shipments," said Tim Greene, research director, Hardcopy Solutions at IDC. "We also saw nice growth in several other segments – shipments in the direct-to-shape and label & packaging markets were also up significantly, both sequentially and year over year. We also saw growth in most of the major geographic markets, with Western Europe and North America leading the way in Q4."

Worldwide Industrial Segment Highlights for Q4 2023

  • Large format digital printer shipments grew 9.3% compared to Q3 2023.
  • Direct-to-shape printer shipments grew 17% compared to the prior quarter.
  • Industrial digital label & packaging printer shipments grew 5.8% sequentially in Q4 2023.
  • The industrial textile segment saw shipments decline 1.6% compared to what was a strong Q3 2023, while shipments in the Direct-to-garment (DTG) segment declined 6% as more users invest in Direct-to-film (DTF) printing systems.

Regional Analysis for Q4 2023

  • Industrial printer shipments in Western Europe saw shipment growth of 22.6% in Q4 compared to what was a very soft Q3 2023.
  • North America saw total shipment growth of 10.2% in Q4 2023 compared to the prior quarter.
  • Shipments in the Central & Eastern European market grew almost 10% sequentially in Q4.
  • The Asia/Pacific region, plus China, was essentially flat in Q4 compared to Q3 2023 but showed strength compared to Q4 2022.

Worldwide Industrial Printer Share of Shipments, Share of Shipment Value, and Sequential Growth, Q4 2023 (share of shipments in units)

Product Category

4Q23 Share of Shipments

4Q23/3Q23 Shipment Growth

4Q23 Share of Shipment Value

4Q23/3Q23 Shipment Value Growth

Direct to Garment

1.1%

-6%

2.8%

-1.6%

Direct to Shape

1.6%

+17.6%

3.0%

+11.6%

Industrial Textile

0.7%

-1.6%

6.7%

+2.9%

Label & Packaging

0.3%

+5.8%

16.1%

+19.6%

Large Format

96.3%

+9.3

71.4%

+11.9%

Total

100%

+8.4

100%

+12.0%

Source: IDC Worldwide Quarterly Industrial Printer Tracker, March 2024

IDC's Worldwide Quarterly Industrial Printer Tracker provides total market size and vendor share for five major market categories: large format, label and packaging, direct to garment, industrial textile, and direct to shape. In addition to units, shipment value, and ASP, the Tracker also provides market results for each product category by ink type, media size, hardware class, or primary application across nine geographic regions and 90 countries.

About IDC Trackers

IDC Tracker products provide accurate and timely market size, vendor share, and forecasts for hundreds of technology markets from more than 100 countries around the globe. Using proprietary tools and research processes, IDC's Trackers are updated on a semiannual, quarterly, and monthly basis. Tracker results are delivered to clients in user-friendly Excel deliverables and on-line query tools.

Click here to learn about IDC's full suite of data products and how you can leverage them to grow your business.

About IDC

International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,300 analysts worldwide, IDC offers global, regional, and local expertise on technology, IT benchmarking and sourcing, and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly owned subsidiary of International Data Group (IDG), the world's leading tech media, data, and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC and LinkedIn. Subscribe to the IDC Blog for industry news and insights.

All product and company names may be trademarks or registered trademarks of their respective holders.

Worldwide shipments of industrial printers grew 11.9% year over year in Q4 2023, according to the latest release of the IDC Worldwide Industrial Printer Tracker.

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